Hello reader, hope you’re doing well. The risk-averse market environment in overnight trades at Wall Street is indicating a choppy session for key local benchmark indices. Despite the negative sentiment, several positive catalysts such as oil price crashing to $69 a barrel, renewed FII buying, and a possible pause by the US Fed in rate hikes could aid the sentiment. Technically, Nifty is likely to be in a trading range of 17800-18500 zone.
Important points to note:
- Nifty has it’s key pivot point at 18200 levels for now, crossing this and sustaining above can open up the path to 18600 and higher.
- Banknifty being one of the major leaders in overall market, strength seen to a very good extent in this counter.
- Today being the final session of the week, slightly muted expectation, with a chance of a slight vix increase and slow move day.
As always, risk management is key, and a proper system in place prevents one from losing out too much, in case of outlier events. Have a good trading day, and may the force be with you!
Disclaimer: this post is for educational purposes only, we are not SEBI registered analysts. Trades mentioned here are not trade recommendations. Equity Investments are subject to 100% market risk, please consult your financial advisor before investing.